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Homebuilders opening more new communities across Valley

Wednesday, July 15, 2020   /   by Juan Grimaldo

Homebuilders opening more new communities across Valley

Even amid the spread of Covid-19, homebuilders are moving ahead with more new communities throughout the Valley.

During the past 30 days, sales contracts shot up 28% at a time when demand typically falls during the hot summer months, said Jim Belfiore, founder of Belfiore Real Estate Consulting.

"During the last five years, demand during the same period has fallen by an average of 2%," he said.

For both new and existing homes, supply is low and expected to drop further during the next 30 days, Belfiore said. That means home prices will continue to escalate.

"New speculative supply in East Valley communities surveyed in the first seven days of the month is almost nonexistent, with builders now focusing on growing backlogs," Belfiore said. "Ready-to-deliver supply fell to a 78-month low in May, and it is set to go lower. Resale supply has reached unhealthy lows."

Here's a quick look at some new communities coming online:

Camelot Homes

Camelot Homes, a third-generation builder on a growth path, is opening its third model home at the Villas at Seven Desert Mountain in north Scottsdale.

Home sites: 49

Floor plans: 2,600 to 4,500 square feet

Prices: Start at $1.4 million before customization and lot selection

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Landsea Homes

Landsea Homes, which is growing exponentially in metro Phoenix, is opening three communities across the Valley:

Sundance

Location: 21598 W. Sonora St., Buckeye

Homes: 172

Floor plans: 1,315 to 3,018 square feet

Price: $218,990 to $286,990

Farmstead at Harvest

Location: 25414 S. 227th St., Queen Creek

Homes: 90

Floor plans: 1,939 to 2,768 square feet

Price: Starting in the low $300,000s

Germann Country Club Garden Estates

Location: 2041 S. McClelland Drive, Chandler

Homes: 16

Floor plans: 2,500 to 3,100 square feet

Price: $489,990 to $519,990

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Shea Homes

Shea Homes broke ground on Prelude at Storyrock, a new 462-acre community in northeast Scottsdale.

Location: 128th Street and Ranch Gate Road, northeast Scottsdale

Homes: 51

Square feet: 2,845 to 3,963

Price: Starting in the low $800,000s

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By: Angela Gonzales - Phoenix Business Journal
Keller Williams Realty Elite- The Grimaldo Group
Juan Grimaldo
2403 N Pebble Creek Pkwy #101
Goodyear, AZ 85395
480-365-8346

© 2020 Arizona Regional Multiple Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Arizona Regional Multiple Listing Service. Real estate listings held by brokerage firms other than Juan Grimaldo - Keller Williams Realty Professional Partners - The Grimaldo Group (WINBACK) are marked with the Arizona Regional Multiple Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Arizona Regional Multiple Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. November 23, 2020
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